Tether hires Trump-era digital assets adviser Bo Hines for U.S. strategy

Tether has appointed Bo Hines, a former executive director of the President’s Council of Advisers on Digital Assets under the Trump administration, as its strategic advisor for digital assets and U.S. strategy. Hines left his government post last week after playing a key role in shaping the Trump administration’s approach to digital assets, including the landmark GENIUS Act [1]. In his new position, Hines is expected to help Tether navigate the evolving U.S. regulatory landscape and advance its market entry strategy, with a focus on building relationships with policymakers and industry stakeholders [1].

Tether CEO Paolo Ardoino emphasized that Hines’ deep understanding of the legislative process and his advocacy for blockchain adoption make him a valuable asset as the company expands into the U.S. market. “His experience and insight are crucial as we work to build a strong U.S.-based presence,” Ardoino said in a statement [1]. The appointment is seen as a reflection of Tether’s broader strategy to strengthen its position in the United States, particularly in light of recent regulatory developments.

Hines expressed enthusiasm about joining Tether at a pivotal moment in the digital asset space. He highlighted the potential of stablecoins to modernize payment systems and increase financial inclusion, and stated that his goal is to help Tether develop a suite of products that set a new standard for compliance and innovation in the U.S. market [1]. His comments underscore Tether’s intent to not only comply with U.S. regulations but also to actively shape the future of digital finance.

The timing of Hines’ appointment is significant, coming just a month after the passage of the GENIUS Act. Prior to the bill’s enactment, Tether had considered launching a U.S.-specific stablecoin to align with an early version of the legislation that imposed stricter requirements on foreign issuers. However, following the bill’s enactment, Ardoino announced that Tether would bring its flagship stablecoin, USDT, into compliance with the new regulatory framework [1]. This move signals the company’s commitment to operating within the boundaries of U.S. law and addressing concerns related to transparency and oversight.

Tether remains the largest stablecoin issuer globally, with its USDT coin maintaining a market capitalization of $167 billion, far ahead of the second-largest stablecoin, USDC, which is valued at $68 billion [1]. Hines’ appointment is viewed as a strategic step to further solidify Tether’s influence in the U.S. market and support its long-term growth ambitions in the digital asset sector. As the regulatory environment for stablecoins continues to evolve, Tether’s decision to bring in a high-profile figure with strong ties to the Trump administration reflects its intent to remain at the forefront of digital asset innovation in the United States.

Source:

[1] Tether Appoints Trump Administration Vet Bo Hines as Strategic Advisor (https://decrypt.co/335777/tether-appoints-trump-administration-vet-bo-hines-as-strategic-advisor)